(audience chanting "stephen") (cheers and applause) >> stephen: thank you, ladies and gentlemen, welcome to the "report," folks, thank you for joining us. it's great to be me. nation, it's a special time of the year. we've been looking forward to it for months now. and wherever you go you can see the twinkle in little children's eyes because they know in a few short weeks ♪ the fiscal cliff is coming to town ♪ merry cliffmas! (laughter) and with a dramatic name like fiscal cliff, it's got to be exciting. jim? >> the president is asking for $1.6 trillion in revenue. >> $600 billion in tax hikes. >> entitlement reform. >> dividends and capital gains. >> discretionary spending. (laughter) (cheers and applause) what happened, is it over? (bleep) oak, folks, i'll admit it. i don't want to talk about the fiscal cliff and you don't want to hear about it. for the next 20 days, all pundit are contractually obligated to talk budgetary policy and you the viewer are obligated to listen. check your cable contract. (laughter) it's right below the part where come cast gets your kidneys. they'll be